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Hazer Group Ltd's director buys on-market

Bryant McLarty, director, increased his stake in the company.
Hazer Group Ltd's director buys on-market
Bryant McLarty purchased share on-market.

Hazer Group Ltd's (ASX:HZR) director, Bryant McLarty, has increased his stake in the company through an on-market purchase.

McLarty's indirect interest through a family trust spent over $60,000 to acquire circa 120,000 shares, lifting the stake to 2.4 million, along with several lines of options.

Last month the company outlined its progress in the ongoing scale up and development work at its laboratory based at the University of Sydney.

The Hazer Process enables the effective conversion of natural gas and similar feedstocks, into hydrogen and high quality graphite, using iron ore as a process catalyst.

Hazer has successfully increased the operating scale of the Hazer Process, and has successfully produced over 1 kilogram of synthetic graphite in a single batch.

This demonstrates the scalability of the process, having successfully increased in capacity by 3,400x in 8 months.

Commercial analysis

Hazer has completed modelling of the performance and cost of the process in a commercial plant operating context.

Preliminary results were high encouraging and suggest Hazer has the potential to offer very low cost hydrogen and graphite products under a range of feedstock costs and secondary product revenues.

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